The Federal Reserve told the stock market what it wanted to hear last week.
News Wednesday that the central bank still expects to cut interest rates three times this year sent stocks to record highs. Despite a pullback on Friday, the major averages finished the week with gains north of 2% across the board.
In the week ahead, a holiday-shortened trading week greets investors looking to cap a strong first quarter of the year with the Nasdaq (^IXIC) and S&P 500 (^GSPC) pacing towards double-digit-percentage gains.
The economic calendar will bring investors the week’s key highlight on Friday morning with financial markets closed for Good Friday when the February Personal Consumption Expenditures (PCE) price index is released.
This report contains “core” PCE inflation, the Fed’s preferred measure, which is expected to show monthly price increases moderated from the prior month.
The balance of…
